Retirement Age for Federal Workers Increases

0

Government workers are now retiring later in their careers. The average age of retirement for federal employees today is 63. This figure has continued to rise since 1990 when the median federal retirement age was 61.3.

Considering other sources of retirement benefits including disability, early outs, and mandatory retirement for firefighters, law enforcement officers and air traffic controllers under special provisions, the average retirement age has increased by close to two years over the same period.

Federal retirement age data is watched closely for signs of predictable waves. As older government workers leave so does institutional knowledge. However, these shifts also open opportunities for younger federal employees.

About of that total are voluntary, or normal, retirements under standard rules at the beginning and end of that period. In the mid-90’s there was a time when the figures fell. Many government agencies downsized, and widespread early retirements were offered.

By the fiscal year 2016, the average years served for CSRS was 37 and for FERS it was 22.2 years of service for early retirements. The average monthly annuity, respectively, was $4,917 and $1,534.

OPM statistics show, that 90 percent of CSRS employees and 12 percent of FERS employees continue to work beyond retirement age.

Reply to this Article